I have conducted my research on the importance of debt in capital structure. Capital structure is a considerable issue for financial managers. They think about the sources of financing that which source should be used? And how much? A capital structure with the best combination of its components...

The study examines the determinants of debt maturity structure decisions, using a sample of companies chosen from two broad indices, viz., the BSE 500 and the CNX 500 index. The study results suggest that collateralizable assets and leverage are the important determinants of debt maturity...

We present new stylized facts on bank and firm leverage for 2000-2009 using extensive internationally comparable micro level data from several countries. The main result is that there was very little buildup in leverage for the average non-financial firm and commercial bank before the crisis,...

Over the last two decades, the leveraged loan market has grown to a size comparable to the market for high-yield corporate bonds, creating a market for “leveraged finance” that includes about $3 trillion in outstanding debt. For issuers and investors in these markets, high-yield bonds and...

We examine the impact of the ECB’s asset purchase programmes on euro area non-financial firms’ cost of borrowing and choice between corporate bonds and syndicated loans. We find that the corporate sector purchase programme (CSPP) reduced corporate bond spreads, and that the ECB’s purchases...

Private firm financing, given the far-reaching importance of non-publicly traded companies for global output and employment, is still a relatively underexplored area. Since the seminal work of Petersen and Rajan (1994), only a small branch of research into private firms’ cost of debt has been...

This paper examines whether the relative power in the CEO–CFO relationship influences the corporate debt maturity structure. In particular, we define CFO co-option as the CFO appointed after the incumbent CEO assumed office. We hypothesize that firms with co-opted CFOs face greater pressure...

The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover risk (where the terms of financing are renegotiated to the detriment of the borrower) and is associated with financial crises. Moreover, debt maturity can have an impact on the...